What Does It mean?
>>>"I missed the DEC 29th filing(request for extension),
the preliminary(YR SEPT 30) numbers are not so good. Has
everyone seen this on EDGAR. "Operating income for the YEAR
of 1.4 million(2.1 after 9 months) which means after
everything is taken out we are looking at a solid loss.
Revenues came in at 62 mil for the year. I can't believe
this slipped by..." I'd like your take on this previous
post...<<<
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Skane:
I don't think anything slipped by...
A week ago I posted that there would be an extension filed...
This was just posted to Edgar now...
Upon reviewing the preliminary numbers, we can see positive
operating income vs negative operating income last year...
On a Qtrly basis, it looks like they dumped all their expenses
in the last Qtr to clear the way for 1998... Implicit in the
numbers is a loss of about one million dollars for the Qtr...
Apparently... These statements only reflect two of the six acquisitions...
So, well see the full effect of these
additions in the next Qtr...
Now, we can see why the stock had that rollercoaster ride
last week... The good news is the stock price bounced off
the lows... Since this news is now history, stock price
activity will most likely begin anticipating the first Qtr
of 1998...
RECYCLING INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
Nine months ended June 30, 1997 and 1996
(Thousands of dollars except per share amounts)
June 30, 1997 June 30, 1996
------------- --------------
Net sales $ 40,558 $ 17,484
Cost of sales and operating expenses 34,447 16,345
------------- --------------
Gross profit 6,111 1,139
Selling, general, and administrative expenses 3,968 2,169
------------- --------------
Operating income (loss) 2,143 (1,030)
Other income (expense):
Due to the acquisition of two additional scrap metals
processing facilities during fiscal 1997 and the costs
related thereto, the Registrant will incur a significant
change in results of operations from the prior year.
Estimated revenues and income (loss) from operations for
Fiscal 1997 compared to Fiscal 1996 are as follows:
For the year ended
September 30,
(thousands of dollars)
1997 1996
---- ----
(Unaudited)
Revenues $62,424 $27,619
Income (loss)
from operations $1,400 $(2,294)
Jim |
